2018 Q1 Form 10-Q Financial Statement
#000160154818000044 Filed on May 08, 2018
Income Statement
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
Revenue | $320.5M | $290.1M |
YoY Change | 10.5% | |
Cost Of Revenue | $294.1M | $264.7M |
YoY Change | 11.09% | |
Gross Profit | $26.47M | $25.36M |
YoY Change | 4.35% | |
Gross Profit Margin | 8.26% | 8.74% |
Selling, General & Admin | $17.80M | $13.71M |
YoY Change | 29.77% | |
% of Gross Profit | 67.24% | 54.07% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $403.0K | $400.0K |
YoY Change | 0.75% | |
% of Gross Profit | 1.52% | 1.58% |
Operating Expenses | $17.80M | $13.71M |
YoY Change | 29.77% | |
Operating Profit | $8.671M | $11.65M |
YoY Change | -25.56% | |
Interest Expense | -$1.164M | -$1.134M |
YoY Change | 2.65% | |
% of Operating Profit | -13.42% | -9.73% |
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | $7.507M | $10.52M |
YoY Change | -28.61% | |
Income Tax | $1.396M | $3.847M |
% Of Pretax Income | 18.6% | 36.59% |
Net Earnings | $6.111M | $6.668M |
YoY Change | -8.35% | |
Net Earnings / Revenue | 1.91% | 2.3% |
Basic Earnings Per Share | $0.55 | $0.61 |
Diluted Earnings Per Share | $0.54 | $0.60 |
COMMON SHARES | ||
Basic Shares Outstanding | 11.15M shares | 10.91M shares |
Diluted Shares Outstanding | 11.34M shares | 11.08M shares |
Balance Sheet
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $28.70M | $53.70M |
YoY Change | -46.55% | |
Cash & Equivalents | $28.75M | |
Short-Term Investments | ||
Other Short-Term Assets | $7.890M | $7.478M |
YoY Change | 5.51% | |
Inventory | $0.00 | $12.60M |
Prepaid Expenses | ||
Receivables | $243.3M | $162.1M |
Other Receivables | $2.729M | $2.842M |
Total Short-Term Assets | $282.7M | $238.7M |
YoY Change | 18.43% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $4.236M | $2.679M |
YoY Change | 58.12% | |
Goodwill | $231.2M | $216.9M |
YoY Change | 6.59% | |
Intangibles | $10.22M | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $7.820M | $1.314M |
YoY Change | 495.13% | |
Total Long-Term Assets | $253.5M | $220.9M |
YoY Change | 14.75% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $282.7M | $238.7M |
Total Long-Term Assets | $253.5M | $220.9M |
Total Assets | $536.2M | $459.6M |
YoY Change | 16.66% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $135.6M | $95.65M |
YoY Change | 41.81% | |
Accrued Expenses | $28.57M | $18.47M |
YoY Change | 54.67% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $4.000M | $17.50M |
YoY Change | -77.14% | |
Total Short-Term Liabilities | $216.2M | $182.5M |
YoY Change | 18.45% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $72.32M | $62.79M |
YoY Change | 15.18% | |
Other Long-Term Liabilities | $1.383M | $2.307M |
YoY Change | -40.05% | |
Total Long-Term Liabilities | $128.3M | $152.4M |
YoY Change | -15.78% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $216.2M | $182.5M |
Total Long-Term Liabilities | $128.3M | $152.4M |
Total Liabilities | $344.5M | $334.9M |
YoY Change | 2.88% | |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $117.3M | $64.59M |
YoY Change | 81.65% | |
Common Stock | $112.0K | $109.0K |
YoY Change | 2.75% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $191.7M | $124.7M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $536.2M | $459.6M |
YoY Change | 16.66% |
Cashflow Statement
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $6.111M | $6.668M |
YoY Change | -8.35% | |
Depreciation, Depletion And Amortization | $403.0K | $400.0K |
YoY Change | 0.75% | |
Cash From Operating Activities | -$11.64M | $9.914M |
YoY Change | -217.38% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | $100.0K | $0.00 |
YoY Change | ||
Acquisitions | $37.21M | $0.00 |
YoY Change | ||
Other Investing Activities | -$37.20M | $0.00 |
YoY Change | ||
Cash From Investing Activities | -$37.28M | -$24.00K |
YoY Change | 155245.83% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | $1.000M | $3.500M |
YoY Change | -71.43% | |
Cash From Financing Activities | -$476.0K | -$4.027M |
YoY Change | -88.18% | |
NET CHANGE | ||
Cash From Operating Activities | -$11.64M | $9.914M |
Cash From Investing Activities | -$37.28M | -$24.00K |
Cash From Financing Activities | -$476.0K | -$4.027M |
Net Change In Cash | -$48.71M | $5.863M |
YoY Change | -930.74% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$11.64M | $9.914M |
Capital Expenditures | $100.0K | $0.00 |
Free Cash Flow | -$11.74M | $9.914M |
YoY Change | -218.39% |
Facts In Submission
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Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
72317000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-4027000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-476000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-24000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-37283000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
9914000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-11637000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
6668000 | USD |
CY2018Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
7890000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
|
-1000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
2821000 | USD |
CY2018Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
7820000 | USD |
CY2017Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1461000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
|
80000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
|
403000 | USD |
CY2018Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1383000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
6111000 | USD |
CY2018Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
11649000 | USD |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
8671000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
16000000 | USD |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
7168000 | USD |
CY2018Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
13854000 | USD |
CY2017Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
6747000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
|
44000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
|
113000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
127000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
487000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
207000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
890000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
|
-1000 | USD |
CY2017Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
2799000 | USD |
CY2018Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
2729000 | USD |
CY2017Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
577000 | USD |
CY2018Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
785000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
37210000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
24000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
73000 | USD |
CY2017Q4 | us-gaap |
Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
|
100000 | USD |
CY2018Q1 | us-gaap |
Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
|
100000 | USD |
CY2017Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2018Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2018Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2018Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2018Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2018Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
18000000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
31000000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
50000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1309000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3733000 | USD |
CY2018Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4236000 | USD |
CY2017Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
174995000 | USD |
CY2018Q1 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
246052000 | USD |
CY2017Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
18000000 | USD |
CY2018Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
31000000 | USD |
CY2017Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
3500000 | USD |
CY2018Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1000000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
117415000 | USD |
CY2018Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
123449000 | USD |
CY2018Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
117338000 | USD |
CY2017Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
290063000 | USD |
CY2018Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
320516000 | USD |
CY2018Q1 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
|
P9M | |
CY2018Q1 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
|
P1Y | |
CY2017Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
13713000 | USD |
CY2018Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
17795000 | USD |
CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1086000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1415000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
33.62 | |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
183372000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
191686000 | USD |
CY2017Q4 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
121601000 | USD |
CY2018Q1 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
156048000 | USD |
CY2018Q1 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
132058000 | USD |
CY2018Q1 | us-gaap |
Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected After One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear
|
3000000 | USD |
CY2017Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11075000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11338000 | shares |
CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10909000 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11146000 | shares |
CY2017Q4 | vec |
Accrued Insurance Financing Current
AccruedInsuranceFinancingCurrent
|
7426000 | USD |
CY2018Q1 | vec |
Accrued Insurance Financing Current
AccruedInsuranceFinancingCurrent
|
10233000 | USD |
CY2017Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueChangeinMeasureofProgressAndModificationOfContract
|
2719000 | USD |
CY2018Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueChangeinMeasureofProgressAndModificationOfContract
|
2841000 | USD |
CY2017Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Favorable Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueFavorableChangeinMeasureofProgressAndModificationOfContract
|
3542000 | USD |
CY2018Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Favorable Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueFavorableChangeinMeasureofProgressAndModificationOfContract
|
4152000 | USD |
CY2017Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Gross Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueGrossChangeinMeasureofProgressAndModificationOfContract
|
2400000 | USD |
CY2018Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Gross Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueGrossChangeinMeasureofProgressAndModificationOfContract
|
3400000 | USD |
CY2017Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Unfavorable Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueUnfavorableChangeinMeasureofProgressAndModificationOfContract
|
823000 | USD |
CY2018Q1 | vec |
Contractwith Customer Liability Cumulative Catchup Adjustmentto Revenue Unfavorable Changein Measureof Progress And Modification Of Contract
ContractwithCustomerLiabilityCumulativeCatchupAdjustmenttoRevenueUnfavorableChangeinMeasureofProgressAndModificationOfContract
|
1311000 | USD |
CY2018Q1 | vec |
Defined Contribution Plan Numberof Plans
DefinedContributionPlanNumberofPlans
|
1 | plan |
CY2017Q1 | vec |
Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
DepreciationDepletionandAmortizationExcludingAmortizationofFinancingCosts
|
407000 | USD |
CY2018Q1 | vec |
Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
DepreciationDepletionandAmortizationExcludingAmortizationofFinancingCosts
|
809000 | USD |
CY2018Q1 | vec |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.90 | |
CY2018Q1 | vec |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.10 | |
CY2018Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Certain reclassifications have been made to the presentation of amounts in our Condensed Consolidated Balance Sheets as of </font><font style="font-family:Arial;font-size:10pt;">December 31, 2017</font><font style="font-family:Arial;font-size:10pt;"> to conform to the current year presentation. Specifically, certain intangible assets were reclassified from non-current assets and are now presented separately on our Condensed Consolidated Balance Sheets.</font></div></div> | |
CY2018Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, revenue recognition, income tax contingency accruals, fair value and impairment of goodwill, useful lives of intangible assets, and valuation of assets and certain contingent liabilities. Actual results could differ from these estimates.</font></div></div> |